RNA Sequencing Service Market

RNA Sequencing Service Market: Distribution by Type of Sequencing Method, Application Area, End User Industry and Key Geographical Regions: Industry Trends and Global Forecasts, 2022-2035

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RNA Sequencing Service Market Overview

The RNA sequencing service market is estimated to be worth $2.8 billion in 2022 and is expected to grow at compounded annual growth rate (CAGR) of 8% during the forecast period.

RNA sequencing was first introduced by Fredrick Sanger in 1977, who used chain termination method, also known sanger sequencing method / first generation sequencing method. It is a rapid method that enables profiling of whole range of RNA expressed by the cell, with increased coverage and resolution. However, the sanger sequencing method costs higher as compared to other methods and has low detection power, which reduces its scalability. Over time, RNA sequencing service market has witnessed several technological advancements, and different methods of RNA seq are now being used for differential gene and allele-specific expression, small RNA profiling, and characterization of alternative splicing patterns and system biology. Among various sequencing methods, next generation sequencing (NGS) introduced by Lynx Therapeutics in 2000, has emerged as a preferred choice across the industry. It is a high throughput, parallel genome sequencing technology, which enables whole genome and whole exome sequencing. It enables reduction in overall cost and process time. Despite the various technological advancements in RNA seq, there are several existing challenges, including difficulty in sequencing of large genes, shortage of human resources and lack of tools for data manipulation and analysis. In addition, establishment and maintenance of next generation sequencing based facilities require high capital. In order to overcome these challenges and obtain a high-quality output, the outsourcing of RNA seq is considered as a preferable option, among other alternatives, by industry players. 

Currently, more than 70 companies offer services related to RNA sequencing. A number of these companies are start-ups that have been established in the past decade. In addition, several stakeholders are engaged in the development of proprietary technologies in order to overcome the errors related to amplification and duplication rates while sequencing. Further, over 340 patents related to RNA sequencing have been recently filed / granted, which demonstrates the innovation and continuous research efforts in RNA sequencing service market. Moreover, over the last few years, grants worth USD 486 million have been awarded by National Institutes of Health to support the ongoing R&D efforts in RNA sequencing service market. Driven by the growing interest of various stakeholders and the wide applicability of this technique, we believe that the RNA sequencing services industry is anticipated to witness noteworthy market growth during the forecast period.

This image highlights the context of RNA Sequencing Services Market report. Recent technological advancements in the field of RNA sequencing have highlighted its potential in diagnostics, gathering significant attention of researchers and industry stakeholders This image provides list of RNA Sequencing Service Providers. Close to 75 players, across the globe, claim to offer services for RNA sequencing; a relatively larger proportion of these players are start ups / small companies, established in the US post 2010 This image presents current market landscape of RNA Sequencing Service Providers. Majority of the service providers (38%) offer services for sequencing of small RNA and mRNA; Illumina is the most widely employed platform for sequencing different RNA samples

Key RNA Sequencing Companies in RNA Sequencing Service Market

Examples of key RNA sequencing companies engaged in RNA sequencing service market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Admera Health, Biogazelle (acquired by CellCarta), CD Genomics, Creative Biogene, IGA Technology, LC Sciences, Lexogen, Novogene, Otogenetics and Yaazh Xenomic. This market report includes an easily searchable excel database of all the RNA sequencing companies providing RNA sequencing services, worldwide.

Recent Developments in RNA Sequencing Service Market

Several recent developments have taken place in the field of RNA sequencing service market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.

  • In June 2023, MGI inked a licensing agreement with Xpress Genomics in order to revolutionize the field of genomics by developing a new scalable solution for deep single-cell RNA-sequencing by Xpress Genomics utilizing MGI's innovative automation and sequencing technologies. 
  • In April 2023, Devyser Diagnostics entered into a collaboration and distribution agreement with Thermo Fisher Scientific giving it rights to commercialize, under combined brands, Devyser’s post-transplant portfolio of NGS products in North America and Europe.

Scope of the Report

The ‘RNA Sequencing Service Market: Distribution by Type of Sequencing Method (Next Generation Sequencing Method, and Other Methods), Application Area (Diagnostic and Research), End User Industry (Academic and Research, Clinics and Hospital, Pharmaceutical Industry and Others), Key Geographical Regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and North Africa): Industry Trends and Global Forecasts, 2022-2035’ market report features an extensive study of the current market landscape, market size, market share, market forecast, market outlook and future opportunities for the RNA sequencing service market. The market research report also includes an in-depth analysis, highlighting the capabilities of RNA sequencing service providers.

This image highlights competitive analysis of players engaged in the domain of RNA Sequencing Services Market. In pursuit of building a competitive edge, stakeholders are striving to enhance their service portfolio and upgrade their facilities with advanced sequencing platforms This image provides information on patents that have been filed / granted related to RNA sequencing. More than 340 patents related to RNA sequencing have been filed / granted by various stakeholders in order to protect the intellectual property generated within this field This image provides information on grants that have been awarded to research institutes engaged in conducting projects related to RNA Sequencing. Over the past few years, grants worth USD 1,034 million have been awarded to various organizations in order to support the ongoing research and innovation efforts

Amongst other elements, the market research report features:

  • A general overview of RNA sequencing, along with information on the key steps involved in the process, details on the various types, methods and applications of RNA sequencing, as well as the advantages and limitations associated with RNA sequencing. It further includes details on the different types of RNA sequencing platforms. 
  • A detailed overview of the market landscape of RNA sequencing service providers, based on several relevant parameters, such as their year of establishment, company size (in terms of number of employees), region of headquarters (North America, Europe, Asia-Pacific and MENA). In addition, the chapter features information on the various offerings of such service providers, including type of RNA sequencing service(s), type of platform (Illumina, PacBio, Nanopore and others), turnaround time, type of sample (human, animal, plant, microorganisms and others) and volume of sample.
  • A competitiveness analysis of RNA sequencing service providers, located in North America, Europe, and Asia Pacific and Rest of the World. The analysis compares service providers on the basis of various relevant parameters, such as experience of the company (in terms of number of years since it was established), service portfolio strength (in terms of number of RNA sequencing services offered, number of samples and turnaround time) and platform diversity (in terms of number of RNA sequencing services offered via respective sequencing platforms).
  • Elaborate profiles of key players involved in providing services for RNA sequencing. Each profile features a brief overview of the company, details on its service portfolio and recent developments, along with an informed future outlook.
  • An in-depth analysis of grants awarded to various research institutes for projects related to RNA sequencing, since 2018, based on several relevant parameters, such as year of grant awarded, amount awarded, administering institute center, support period, type of grant application, purpose of grant, activity code, study section, type of organization, emerging focus areas, popular NIH departments, popular recipient organizations (in terms of number of grants and amount awarded), prominent program officers and location of recipient organizations.
  • An insightful analysis of patents filed / granted for RNA sequencing, since 2018, taking into consideration various relevant parameters, such as type of patent, publication year, application year, geographical location, CPC symbols, emerging focus areas, type of applicant, leading players and individual assignees (in terms of number of patents granted / filed in the given time period). In addition, the chapter includes a detailed patent benchmarking and an insightful valuation analysis, highlighting the leading patents (in terms of number of citations).
  • A qualitative analysis of the five competitive forces, including threats of new entrants, bargaining power of customers, bargaining power of RNA sequencing service providers, threats of substitute services and rivalry among existing competitors under an insightful Porter’s Five Forces framework.
  • A case study on NGS library preparation kits, based on type of platform, amount of sample, turnaround time, storage temperature, type of sequencing(s), kit components, type of sample. In addition, it includes a study on NGS library preparation kit developers, featuring analyses based on their year of establishment, company size and geographical presence.
  • An insightful analysis, highlighting financial attributes (payback period, total cash inflow, and earning potential of platforms) that need to be taken into consideration by various RNA sequencing service providers to facilitate decision making to employ sequencing platform.

The key objective of RNA sequencing service market report is to provide a detailed market analysis in order to estimate the existing market size, market value, statistics and future opportunity for RNA sequencing service market during the forecast period. We have provided informed estimates of the likely evolution of the market in the short to mid-term and long term, for the forecast period 2022-2035. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as type of sequencing method (next generation sequencing method and other methods), application area (diagnostic and research), end user industry (academic and research, clinics and hospital, pharmaceutical industry, and others), and key geographical regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and North Africa). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the market’s evolution.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.

This image provides information about the five competitive forces, including threats of new entrants, bargaining power of customers, bargaining power of RNA sequencing service providers. RNA sequencing for transcriptome profiling has become a widely used technique in life sciences industry, leading to an increase in opportunities within this domain This image provides information about financial attributes that need to be taken into consideration by various RNA sequencing service providers to facilitate decision making to employ sequencing platform. Sequencing platforms with less turnaround time are likely to have high profitability index and offer more profit potential to the companies offering RNA sequencing services This image highlights the market segments of RNA Sequencing Services Market. The RNA sequencing services market is expected to grow at a rate of 7.9%, till 2035; the market opportunity is likely to be well distributed across different methods, applications, end-users and geographies

Frequently Asked Questions

Question 1: What is RNA Sequencing?

Answer: RNA sequencing utilizes various techniques to identify the sequence of base pairs that make up any sample RNA molecule.

Question 2: What is the RNA sequencing service market size?

Answer: The RNA sequencing service market size is estimated to be worth $2.8 billion in 2022.

Question 3: What is the projected market growth of the RNA sequencing service market?

Answer: The RNA sequencing service market is expected to grow at compounded annual growth rate (CAGR) of 8% during the forecast period 2022 - 2035.

Question 4: Who are the leading RNA sequencing companies in the RNA sequencing service market?

Answer: Examples of key RNA sequencing companies providing RNA sequencing services (which have also been profiled in this market report; the complete list of companies is available in the full report) include Admera Health, Biogazelle (acquired by CellCarta), CD Genomics, Creative Biogene, IGA Technology, LC Sciences, Lexogen, Novogene, Otogenetics and Yaazh Xenomic.

Question 5: How many patents have been filed related to RNA sequencing?

Answer: Over 300 patents have been filed related to RNA sequencing till date.

Question 6: Which region is the hub for players providing RNA sequencing services?

Answer: North America presently harbors majority of the RNA sequencing companies providing RNA sequencing services, with close to 55% of the companies established in this region.

Question 7: Which sequencing platform is most preferably used by different RNA sequencing companies (service providers)?

Answer: Close to 75% of RNA sequencing companies (service providers) employ sequencing platforms developed by Illumina.

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